South Korean crypto criminals face life imprisonment
Criminals that make more than 5 billion won ($3.8 million) in illegal crypto profits are facing life sentences in South Korea.
Criminals that make more than 5 billion won ($3.8 million) in illegal crypto profits are facing life sentences in South Korea.
A Seoul court sentenced the pair to a combined eight years in jail and said a “significant amount” of Bitsonic user funds is still missing.
According to Foresight News, the Shanghai Municipal People's Government has issued a notice on the implementation plan for Shanghai to implement the overall plan for a high-level system of openness in the China (Shanghai) Pilot Free Trade Zone. The notice highlights the orderly promotion of the digital yuan pilot and the expansion of its application scenarios. The aim is to create a more convenient, inclusive, and user-friendly digital yuan acceptance environment. This will further deepen the pilot application of the digital yuan in areas such as trade settlement, chain supermarkets, tourism catering, and e-commerce platform payments, gradually building a digital yuan ecosystem. The notice also encourages financial institutions to apply technologies such as artificial intelligence and blockchain to deepen international cooperation in financial technology and create demonstration scenarios for fintech applications.
The U.S. Securities and Exchange Commission approved spot Bitcoin exchange-traded funds for the first time on Jan. 10.
The rule changes proposed in 2022 were criticized by the crypto industry at the time and opposed by the Republican SEC commissioners.
In a hearing of the House Financial Services Committee, Janet Yellen said there should be a regulatory approach on stablecoins applicable to all U.S. states.
The agencies released discussion papers relating to stablecoin regulation and custody in November.
According to the Fed, Farmington State Bank had winded down operations and “no longer functions as a bank” following the initial enforcement action.
Judge Sarah Netburn set a deadline of Feb. 12 for Ripple to comply with an order to provide information related to post-complaint contracts for the SEC.
According to DCG, Genesis’ proposed bankruptcy plan pays creditors “hundreds of millions of dollars more” than the amount of the petition.